NextEra Energy, Paccar tap primary market; strong deal volume eyed

By Cristal Cody

Tupelo, Miss., Feb. 22 – Two high-grade issuers continued a strong week of issuance with deals brought to the primary market on Friday.

NextEra Energy Capital Holdings Inc. priced $800 million of debentures in two tranches.

Paccar Financial Corp. sold $300 million of three-year medium-term notes.

Investment-grade issuers priced more than $27 billion of corporate bonds over the week, beating market forecasts of about $20 billion to $25 billion of supply.

The momentum is expected to continue into next week with syndicate sources forecasting issuance of about $25 billion to $30 billion.

In other market activity on Friday, Woodside Finance Ltd. continued the second day of a two-day roadshow and fixed income investor calls for an upcoming dollar-denominated offering of notes.

The Markit CDX North American Investment Grade 31 index was mostly unchanged on Friday at a spread of 62 basis points.

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